Sanwo-Olu To Revamp National Art Theatre

The Lagos State Governor, Mr Babajide Sanwo-Olu has reacted to the signing of a Memorandum of Understanding, MoU on the investment plan to revamp the iconic National Art Theatre.

According to Sanwoolu, the MOU was between the Bankers’ Committee and the Federal Ministry of information and Culture.

He noted that the investment would significantly boost the creative and tourism economy in Lagos and across the country.

Sanwo-Olu added that creative talents and young people who seek several opportunities in the sector would thrive.

National Art Theatre had reported that Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele revealed that about 25,000 people would work at the National Arts Theatre upon completion.

According to the CBN Governor, the first phase of the project, which would have four hubs for music, fashion, information technology and movies, would be ready in 15 months.

He noted that the CBN anticipate that there would be at least 10,000 direct and indirect jobs created during the National Theatre construction.

Sanwo-Olu To Revamp National Art Theatre
Bankers’ Committee and the Federal Ministry of information and Culture signs MOU to revamp the National Art Theatre.

Emefiele added that the first phase of the project would gulp about N21.3 billion.

Meanwhile, the CBN Governor said the Bankers’ Committee would provide funding for a prototype cluster located to the north of the National Arts Theatre.

He stressed that the aim is to deliver a booming Creative and Entertainment city that will encourage additional investment into Nigeria’s creative industry.

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